Throughout early 2023 TMK significantly advanced the planning and design process for the pilot well program, which included up to three production wells, metering, production and testing facilities, as well as ancillary equipment required to produce gas to the surface.

The Pilot Well Program was primarily funded by Talon Energy, TMK’s partner in the Gurvantes XXXV Project. Talon elected to enter Stage 2 of the Farmout Agreement in early December 2022 and is paying the first US$3.15 million towards what is budgeted to be approximately US$3.5 million, with TMK and Talon paying their proportionate share of further costs over and above US$3.15 million.

In February 2023, TMK announced that it had signed a drilling contract with the Mongolian operating subsidiary of the Major Drilling Group – a large international Canadian based drilling company – for TMK’s maiden Pilot Well Program.

Lucky Fox-1

Total Depth375 metres
Net Coal Thickness61 metres
Date DrilledApril 2023
Production Interval Depth184-314 metres

Lucky Fox-2

Total Depth407 metres
Net Coal Thickness62 metres
Date DrilledMay 2023
Production Interval Depth245-393 metres

Lucky Fox-3

Total Depth515 metres
Net Coal Thickness68 metres
Date DrilledMay 2023
Production Interval Depth316-470 metres

“The drilling component of the Pilot Well Program has been a tremendous success.  It is a credit to our Mongolian and Australian team that they have delivered three successful wells meeting all technical objectives, safely, on time and on budget.

Intersecting over 60 metres of gassy coal in each well, which is exceptionally thick for a CSG project, demonstrates one of the unique qualities of the Gurvantes Project and bodes well for the upcoming production testing.

I am extremely pleased with the results to date and look forward to the final stages of the Pilot Well Program being completed over the coming weeks prior to turning the pumps on and commencing the dewatering process.”

Brendan Stats, CEO

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